The present invention relates to a split bushing and a tool assembled in a kit assembly, and more particularly the invention relates to a bushing having a split cut therethrough so that it may be opened wide for lateral application onto or removal from a shaft, and a tool having pinching finger elements insertable into pinching finger openings in an end of the bushing for inserting the bushing axially into a bushing or bearing sleeve or boss or axially removing the bushing.